What Is The Standard Deduction For 2024 Hoh

What Is The Standard Deduction For 2024 Hoh. The standard deduction is a specific dollar amount that reduces the amount of income on which you're taxed. The standard deduction is a fixed amount you can deduct from your taxable income that is adjusted every year to keep up with inflation.

Here’s a look at the projected numbers for the tax year 2024, beginning jan. The 2024 standard deduction for tax returns filed in 2025 is $14,600 for single filers, $29,200 for joint filers or $21,900 for heads of.